RDL Financial Inc. grew its position in shares of Visa Inc (NYSE:V) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,817 shares of the credit-card processor’s stock after buying an additional 687 shares during the quarter. Visa accounts for approximately 2.8% of RDL Financial Inc.’s investment portfolio, making the stock its 5th biggest holding. RDL Financial Inc.’s holdings in Visa were worth $4,347,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Earnest Partners LLC bought a new stake in Visa during the 4th quarter valued at $100,000. AlphaOne Investment Services LLC bought a new stake in Visa during the 4th quarter valued at $108,000. Financial Gravity Companies Inc. bought a new stake in Visa during the 4th quarter valued at $112,000. First Dallas Securities Inc. bought a new stake in Visa during the 4th quarter valued at $125,000. Finally, Slow Capital Inc. bought a new stake in Visa during the 4th quarter valued at $132,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Vasant M. Prabhu sold 25,064 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total value of $3,522,995.84. Following the completion of the transaction, the chief financial officer now directly owns 58,232 shares in the company, valued at $8,185,089.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James H. Hoffmeister sold 6,912 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $140.01, for a total transaction of $967,749.12. Following the completion of the transaction, the senior vice president now owns 6,912 shares of the company’s stock, valued at $967,749.12. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.
V has been the topic of a number of analyst reports. Morgan Stanley boosted their target price on shares of Visa from $140.00 to $142.00 and gave the company an “overweight” rating in a report on Thursday, April 26th. Buckingham Research boosted their target price on shares of Visa from $150.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, April 26th. Argus boosted their target price on shares of Visa from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, April 27th. Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating in a report on Friday, May 4th. Finally, UBS Group initiated coverage on shares of Visa in a report on Friday, May 18th. They set a “neutral” rating and a $141.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $147.87.
V opened at $141.33 on Monday. The firm has a market cap of $284.25 billion, a PE ratio of 40.61, a PEG ratio of 1.78 and a beta of 1.06. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.60. Visa Inc has a one year low of $101.94 and a one year high of $143.14.
Visa (NYSE:V) last released its quarterly earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.11. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.09 billion. Visa had a net margin of 47.91% and a return on equity of 36.09%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 EPS. sell-side analysts forecast that Visa Inc will post 4.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. Visa’s dividend payout ratio (DPR) is currently 24.14%.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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